quora

Risk Management - Essay Example

Comments (0) Cite this document
Summary
This review in regards of the risk management plan for student not completing their diploma, as we can see the process looks at all aspects of risks of student not completing the degree and it measures all possible outcome in relation to students, but on the other hand measures can’t be reliable until one of the situation occur which will put the risk plans in action. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.3% of users find it useful
Risk Management
Read TextPreview

Extract of sample
"Risk Management"

Download file to see previous pages 1. What is the significance of reviewing the existing risk managements processes, procedures and requirements at the commencement of ‘establishing risk context’ stage of the risk management process?
Establishing the risk context is essential in identifying the limits of any organisation, their risk management processes and the expected results. Before instituting the context it is important to review the existing risk management as it has already evaluated the potential risks that can be sustained and losses incurred. These processes have helped to introduce necessary measures to reduce the probability of occurring risks.
Reviewing these existing procedures helps to improve and reassess their ability to mitigate and manage risks. It also helps to identify the probability of new risks and the likelihood of past risks occurring again. This is essential in establishing the value of existing strategies and the effect they have had on the organisation’s assets, profitability, risk management, and their cost effectiveness.


2. Why is it essential that the scope of your risk management is clearly identified?
The scope of risk management encompasses many things like identifying personnel such as stakeholders, timeframes, specific areas that need to be reviewed, and the applicability of certain strategies. Therefore, it is very important that the scope be properly defined. This would help in accurately applying risk management sources without unnecessarily replicating them, help involve stakeholders, and aid in achieving the desired goals.
It will also help the organisation to manage their resources, target specific risk management areas, set proper timeframes for strategies and precisely define the desired goals. 3. Identify the possible internal and external stakeholders that an organisation might have. Internal External Employees Manager Owners Departments Work teams OHS department Committees Shareholders (e.g., small groups and business) Suppliers Society Government Creditors Shareholders (e.g.: public listed company) Customers Agents Other businesses Finance companies Chambers of commerce Creditors 4. Why is it important to consult with stakeholders when you are in the process of establishing the risk context? Different stakeholders have different issues and concerns, which means that we need to maintain a high level of interpersonal skills to engage stakeholder cooperation and find out what works for everybody, as well as be aware of what do they want to be informed of and when. Consultation with stakeholders will enable development and open communication, encourage cooperation, build communication early, and also give early notice of some issues that may arise (e.g., costs, timing, resources, other personnel involved and aspects of the process itself). Stakeholders can provide risk managers with information about risks and who is likely to be affected by the processes, potential impacts or outcomes of the identified risks. They may have a much broader knowledge about risks, and therefore be able to help in identifying impacts. 5. What specific types of documentation should be reviewed during the ‘establishing risk context’ stage of the risk management process for the following areas? Area / context Documentation Political and legal context Companies’ ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Risk Management Essay Example | Topics and Well Written Essays - 10000 words”, n.d.)
Retrieved de https://studentshare.org/business/1390600-rick-management
(Risk Management Essay Example | Topics and Well Written Essays - 10000 Words)
https://studentshare.org/business/1390600-rick-management.
“Risk Management Essay Example | Topics and Well Written Essays - 10000 Words”, n.d. https://studentshare.org/business/1390600-rick-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Risk Management / Organisational Risk
7-Eleven is headquartered in Dallas, Texas and it has various subsidiaries in different locations which are operated by in excess of 45,000 of its employees. The organisation is further recognised as one of the
13 Pages(3250 words)Research Paper
Risk management
The investments in housing, real estate and properties were lucrative in the initial days. The investors had the opportunity to multiply their amount of investment in a short period of time due to appreciation of prices of the land properties. In addition to that the US government also passed laws to ensure that all the citizens of US irrespective of their financial status should have land ownership rights.
12 Pages(3000 words)Essay
RISK MANAGEMENT
Operations risk management involves the actual risks of company operations. The overall ethic of risk management is referred to as the risk culture of a company. A Strong Risk Culture The general features of a strong risk culture include leadership and management.
4 Pages(1000 words)Essay
Risk Management
With an ambition to be the leader in world air travel business, emirates Airline has over the years put in place measures and strategies that ensure that its cherished customers are give the very best of service. Part of these services is the practice of ensuring safety and security.
6 Pages(1500 words)Essay
Risk Management
The risk management practices also aim to maximize the realization of opportunities. The effectiveness in risk management practices determines the performance level of an organization. Similarly, persons at the helm of affairs of risk management team must be capable dealing with any contingency equanimously.
4 Pages(1000 words)Essay
Risk Management
The first is that of addressing uncertainty explicitly. Through defining risk and expressing it explicitly, the risks have value and can be addressed for the specific meaning to the organization. The second is through tailoring the risk management to the needs of the organization so that it is relevant.
8 Pages(2000 words)Essay
Risk management
It accompanies policy driven actions. Systemic risk is not restricted to the national borders. They are not able to be managed through the events of a single sector (J. Vaughan & T. Vaughan, 2012). They need healthy approach to governance to be managed adequately.
14 Pages(3500 words)Essay
Risk Management
While the course has offered diversified elements of risk management, I considered some lessons and themes more significant. This paper identifies the important themes and makes recommendations to the U.S. government, the Federal Reserve, and large multinational manufacturer of consumer personal care products for coping with risks over the next 1-3 years.
5 Pages(1250 words)Essay
Risk Management
One of the systems that is used in organizations is risk assessment tools as a system of internal and external control. Risk assessment is
1 Pages(250 words)Essay
Risk Management
With the many examples of risks provided by the speaker such as mountain climbing, it is easy to make out what the speaker is bringing out in their speech. Through the speech as well, one can easily plan on how to handle with risks that
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Risk Management for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us